Review of Introductory Mathematics AVERAGESAverageValueThe summation symbol, , introduced in the first chapter, is often used when dealing with theaverage value, .xUsing the first example in this chapter, the average value could have been expressed in thefollowing manner:xcarNxii 1Nwhere:= the average value (cost) of a carxcarxi= each of the individual car pricesN = total number of carsThe right side of the above equation can then be rewritten.xcarx1x2x3x4x5x66substituting 10,200 for x1, 11300 for x2, 9,900 for x3, etc.xcar10,20011,3009,90012,00018,00076006= 11,500xcarRev. 0 Page 21 MA-01